エピソード
-
Srini Ramaswamy and Ipek Ozil discuss the latest themes in US interest rate derivatives markets.
Speakers:
Srini Ramaswamy, Managing Director and Co-Head of US Rates Strategy Ipek Ozil, Executive Director, U.S. Fixed Income Derivatives Research
This podcast was recorded on June 17, 2024. This communication is provided for information purposes only. Institutional clients can view the related report at: https://www.jpmm.com/research/content/GPS-4722179-0. For more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved.
-
On this episode, Jay Barry and Phoebe White discuss the implications of the recent events in Europe on Treasury market liquidity, as well as their takeaways from the downside surprise in May CPI and their thoughts ahead for US rates and inflation markets. They are hesitant to take too much signal from the weakness in core inflation in May and still expect the first rate cut in November.
Speakers:
Phoebe White, Fixed Income Strategy
Jay Barry, Fixed Income Strategy
This podcast was recorded on 14 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4725284-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
エピソードを見逃しましたか？
-
Rates strategists Francis Diamond and Aditya Chordia discuss some current key themes and topics for European rate markets. French politics is the focus for Euro rate markets and with the situation fluid they discuss what has changed over the past few days and how that impacts on view on French spread and other intra-EMU spreads. They also touch on UK political developments this past week and the June BoE meeting.
Speakers:
Francis Diamond, UK Rates & European Inflation Strategy
Aditya Chordia, Rates Strategy
This podcast was recorded on 14 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4723970-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Acknowledging the notable slowdown in drilling activity, we now expect annual US crude oil output, including condensate, to increase by 362 kbd in 2024 and 395 kbd in 2025. While oil recovered per foot drilled in the US shale basins fell 12% since its peak in 2021, operational efficiencies, which began being implemented more widely last year, are more than offsetting declining productivity and relatively low rig count. On annualized basis, we project another 400 kbd growth in US NGLs supply in 2024 and an additional 350 kbd in 2025. Combined, we estimate total US oil liquids production will grow by 762 kbd in 2024 and 745 kbd in 2025.
Speakers:
Natasha Kaneva, Head of Global Commodities and Oil Research
This podcast was recorded on 14 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4708264-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Meera Chandan and Patrick Locke discuss the implications of US inflation and the FOMC, as well as recent vol shocks for the dollar and FX markets.
Speakers:Meera Chandan, Global FX Strategy
Patrick Locke, Global FX Strategy
This podcast was recorded on 14 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4724024-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Jonny Goulden and Saad Siddiqui analyse the multiple global and EM-specific drivers of rise in volatility hitting EM markets.
This podcast was recorded on 14 June 2024.
This communication is provided for information purposes only. Institutional clients; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Raphael Brun-Aguerre, Aditya Chordia and Meera Chandan discuss the path ahead for the French lower house elections in the coming weeks as well as implications for FX / rates markets.
This podcast was recorded on 11 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related reports at
https://www.jpmm.com/research/content/GPS-4721981-0
https://www.jpmm.com/research/content/GPS-4723118-0
https://www.jpmm.com/research/content/GPS-4723362-0
for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Take a seat at the table as we unpack key takeaways from our recently concluded annual Frontier Markets Fixed Income Conference in London and highlight top themes in this special episode of At Any Rate.
Speakers:
Saad Siddiqui, Head of Local Markets Strategy for EMEA EM
Ayomide Mejabi, Frontier Market Strategy
Ben Ramsey, Head of EM Sovereign Credit Strategy
Gbolahan Taiwo, Chief Economist, Africa (ex-SA)Samantha Azzarello, Head of Content Strategy, Global Research
This podcast was recorded on June 10, 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4717869-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
We assess the impact of this week’s FX carry trade deleveraging, as well as FX views from here after the ECB, BoC and US payrolls, ahead of key event risk next week.
Speakers:Patrick Locke, Global FX Strategy James Nelligan, Global FX Strategy
This podcast was recorded on 7 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4719772-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Speakers:
Natasha Kaneva, Head of Global Commodities and Oil Research
The market’s verdict on the OPEC+ decision was likely behind the 6% fall in oil prices this week. The producers’ group extended its 3.6 mbd of supply reductions through 2025, but it also announced plans to gradually unwind 2.2 mbd of voluntary cuts starting in October, subject to market conditions. On paper, this additional production would clearly be bearish for prices. However, there are important details that need to be taken into account. For one, a number of key OPEC producers are already pumping well above their assigned quotas. Second, many OPEC producers are already operating at close to full capacity. We maintain our view that summer inventory draws should be enough to get Brent back into the high $80s-$90 range by September, but are aware that OPEC+’s intention—even if aspirational—to produce more, might have a psychological effect on consumers’ willingness to replenish inventories.
This podcast was recorded on 7 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4717071-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
J.P. Morgan economists and strategists discuss the outlook for Emerging Markets in H2, focusing also on the various channels in which the upcoming US election - which looks set to dominate H2 - can impact EM economies and fixed income markets.
Speakers
Luis Oganes - Head of Global Macro Research
Jonny Goulden - Head of EM Fixed Income Strategy
Nora Szentivanyi - Global Economist
This podcast was recorded on 7 June 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4713698-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Rates strategists Jay Barry and Afonso Borges discuss the medium-term outlook for Treasury supply and the risks to the Treasury market ahead of next week’s first-tier data.
Speakers:
US Treasury Market Daily – Jay Barry
US Fixed Income Markets Weekly – Jay Barry
This podcast was recorded on 31 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4708661-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved.
-
FX markets focus will become US-centric with payrolls, CPI and FOMC on the calendar. But June also brings other G10 central bank meetings. We discuss outlook for currencies going into this key month and event risk.
Speakers
Meera Chandan, Global FX Strategy
Patrick Locke, Global FX Strategy
James Nelligan, Global FX Strategy
This podcast was recorded on 31 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4715460-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Rates strategists Francis Diamond, Fabio Bassi and Aditya Chordia discuss some current key themes and topics for European rate markets. They cover the upcoming May ECB meeting, valuations in swap and bond space views on swap spreads, the upcoming French ratings review and the relevance of European Parliamentary and the UK general election for rate markets.
This podcast was recorded on 31 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4713356-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Luis Oganes, Saad Siddiqui and Tania Escobedo, revisit the forces behind the Mexican peso’s regime shift from a high-beta risk proxy to a lower-beta currency on a trend-appreciation path as Mexico benefits from the geopolitical dividends of nearshoring. They also touch upon upcoming risks around elections, as well as valuations.
SpeakersLuis Oganes, Global Head of Macro ResearchSaad Siddiqui, Emerging Markets StrategyTania Escobedo Jacob, Emerging Markets Strategy
This podcast was recorded on 28 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4703117-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
In the past two weeks, US Henry Hub and European TTF have rallied in price significantly. With US prices at one point climbing above $2.70/MMBtu and TTF crossing 35 EUR/MWh, we will discuss the drivers of these price moves higher, including the reduction in supply currently in place - both in US production and global LNG supply - and the fundamental changes that we expect to see as a result of the recent price rally. Additionally, we will dive deeper into headlines surrounding Golden Pass and the Ukraine/Russia transit deal, which could have implications to our current price forecast.
Speakers:
Shikha Chaturvedi, Head of Global Natural Gas Research
This podcast was recorded on 24 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4705416-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Jonny Goulden and Saad Siddiqui discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 23 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4707597-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
Take a seat at the table as Stephen Dulake, Global Head of Credit, Andrew Crook, Managing Director, Head of European High Yield, Leveraged Loan and Convertible Sales and Global Head of Macro Credit Sales and Samantha Azzarello, Head of Content Strategy, unpack the top takeaways for credit markets from the recently concluded J.P. Morgan Global Markets Conference in Paris.
SpeakersStephen Dulake, Global Head of Credit, Securitized Products and Public Finance Research Andrew Crook, Head of European High Yield, Leveraged Loan and Convertible Sales and Global Head of Macro Credit SalesSamantha Azzarello, Head of Content Strategy, Global Research
This podcast was recorded on May 22, 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4666611-0 and https://www.jpmm.com/research/content/GPS-4689640-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
J.P. Morgan hosted its annual Global Markets Conference in Paris on 15-17 May. Judging from the speaker comments and questions from the audience, participants at the conference appeared rather sanguine about the US and global economic outlook. In this podcast the Macro Research team discusses their key takeaways from the sessions and conversations with investors, which covered a range of topics including the prospects for US soft landing, potential divergence between the Fed and other central bank easing cycles, geopolitical risks and the market implications of the US elections.
SpeakersLuis Oganes, Head of Global Macro Research Jay Barry, Co-head of US Rates StrategyFabio Bassi, Head of International Rates StrategyMeera Chandan, Co-head of FX StrategyJonny Goulden, Head of EM Fixed Income Strategy
This podcast was recorded on 21 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4700544-0, https://www.jpmm.com/research/content/GPS-4704635-0, https://www.jpmm.com/research/content/GPS-4700508-0, https://www.jpmm.com/research/content/GPS-4691814-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
-
LME copper prices have surged nearly 30% year-to-date, jumping above $11,000/mt this morning with COMEX prices in the US still trading at a significant premium to the global LME benchmark. The massive widening of the COMEX/LME copper arb over the last week is more about positioning and inventory tightness in the US specifically and not reflective of a tight broader global refined copper market just yet. We remain structurally medium-term bullish on copper prices over the next two years as constrained mine supply is not going to alleviate quickly but current price levels are running well ahead of global refined market fundamentals at the moment. China’s refined market appears loose as demand is being deferred and delayed amid high copper prices while refined supply has stayed strong. A temporary correction in copper prices could be healthy to kick start Chinese demand and lay the groundwork for another eventual push even higher.
Speaker: Gregory Shearer
This podcast was recorded on 20 May 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4701703-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
- もっと表示する
